Despite having 3 days of bullish run, it wasn’t enough to stop the Nigerian Stock Exchange (NSE) from closing on a bearish note. The week saw a bandwagon of companies release their financial statements for the period ended September 30, 2019, as either results for Q2, Q3 or Q4 2019.
Many of the results were impressive even to put the local bourse on a bullish run. Some companies also declared an interim dividend, as typical with earnings season.
Out of the traded stocks with corporate actions from last week, we have carefully curated a list of stocks you should watch out for this week.
Stock watchlist is a list of securities being monitored for potential trading or investing opportunities. An investor or trader may create a watchlist of several, dozens or even hundreds of trading instruments to make more informed and opportune investment decisions. Lucky for you, we have reduced the hassle.
Ripples Nigeria stock watchlist is not a buy, sell, or hold signal. Consult your financial advisor before making any investment-related decision.
University Press Plc
University Press takes the first place on Ripples Nigeria watchlist for leading last week’s top gainers. The company released its H1 2019 financial statement for the period ended September 30, 2019. Profit after tax grew by a marginal 1.5% to N435 million as against N428.8 million in 2018. University Press financial year starts in April of every year.
Champion Breweries Plc
This company made it to our stock watchlist for taking the position of the worst-performing stock from last week’s trades. Champion Breweries took a hit of 11.76% to close at N0.90. The company released its 9 months period financial, indicating an impressive performance that could turn its fate for the better. The company recorded an 88% profit after tax.
Glaxo SmithKline Consumer Nigeria Plc
GSK made it on our watchlist for its corporate action announcing the appointment of Oludewa Edodo-Thorpe as a non-executive director to its board. Edodo-Thorpe is a seasoned corporate and investment lawyer. The former Bank of Industry company secretary commenced active legal practice specializing in Secured Credit Transactions, Corporate & Commercial Law and International Business Transactions.
Royal Exchange Plc
Royal Exchange is on our watchlist by virtue of an investment by Insuresilience Investment Fund (IIF) set up on behalf of the German Government by the German Development Bank (KfW) and managed by Swiss-based impact investment manager, Blue Orchard Finance Limited. The deal saw the completion of a 39.25% stake acquisition by IIF in one of the company’s subsidiary, Royal Exchange General Insurance Limited.
Stanbic IBTC Holdings Plc
Stanbic IBTC is on Ripples Nigeria watchlist for announcing the resignation of Sim Tshabalala as a non-executive director in the group’s board. Tshabalala who is the Chief Executive of the Standard Bank Group will also be resigning from Stanbic IBTC Bank’s board effective October 31, 2019. His resignation was to enable him to focus on his current role at Standard Bank Group.
Okomu Oil Palm Company Plc
Okomu Oil made it to our watchlist for its price adjustment to N54.95 per share due to its declared interim dividend of N2 per ordinary share of 50 kobo. The ex-dividend price was N52.95.
Nigerian Breweries is on our watchlist for declaring an interim dividend of 50 per ordinary share for the period ended September 30, 2019. The qualification date is Thursday, November 21, 2019, while payment will be on Monday, December 9, 2019.
Seplat Petroleum Development Company Plc
Seplat made it to our watchlist for declaring an interim dividend of $0.05 (N18.15) per share for the period ended September 30, 2019. Qualification date is Tuesday, November 12, 2019, and the payment date is Thursday, December 5, 2019.
Global Spectrum Energy Service Plc
Global Spectrum is on our watchlist for declaring a dividend of 5 kobo per share. Qualification date is November 18, 2019, and payment date is November 27, 2019.
Red Star Express Plc
Red Star is on our watchlist for its proposed rights issue of 336.9 million ordinary shares of 50 kobo each at N4 per share. The rights issue will be on the basis of 4 new shares for every 7 ordinary shares held. This means the rights issue is only open to its existing shareholders.
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